ADB provides $75 million loan for Pakistan wind farm

PAKISTAN: The Asian Development Bank (ADB) is providing a $75 million loan to help finance the development of a 150MW wind cluster in Pakistan.

GE's 1.7MW turbines will be installed at the Pakistan complex

Triconboston Consulting, a special purpose vehicle (SPV) set up by textiles conglomerate Sapphire Group and Bank Alfalah, is developing the complex, to be built as three 50MW projects in the Sindh province in southern Pakistan.

Hydrochina Corporation has been appointed as engineering, procurement and construction (EPC) firm on the 150MW wind farm's three phases.

GE is supplying 1.7MW turbines and will provide operations and maintenance services under a ten-year contract.

Construction of the wind farm is set for completion by the second quarter of 2018.

Power from the Triconboston Consulting site will be sold under a 20-year take-or-pay power purchase agreement under a feed-in-tariff to Pakistan's Central Power Purchasing Agency.

"This wind farm is a major contributor to Pakistan's drive to scale up renewable energy use and to reduce its reliance on coal and petroleum for power generation," said Mohammed Azim Hashimi, an investment specialist in ADB's private sector operations department.